IMCD expands its Indian footprint by acquiring Monachem Additives
18 Septembre 2019 - 7:00PM
IMCD expands its Indian footprint by acquiring Monachem Additives
ROTTERDAM, The Netherlands (18 September 2019)
– IMCD N.V. (“IMCD” or “Company”), a leading distributor
of speciality chemicals and food ingredients, announced that it
successfully completed the acquisition of 100% of the outstanding
shares of the India based “Monachem Additives Private Limited’ and
“ Addpol Chemspecialities Private Limited” (together Monachem
Additives).
Monachem Additives, headquartered in Vadodara, was established
in 1974, and is engaged in supplying and selling a comprehensive
range of specialty chemicals products, in particular for the
plastics industry.
In 2018/2019, Monachem Additives, generated revenue of INR 800
million with 22 employees (year ending March 31, 2019). Both
entities will be fully integrated into IMCD’s existing organisation
by 2020.
Olivier Champault, Director of IMCD Advanced Materials comments,
“This acquisition fits perfectly in our continuous efforts to build
and establish IMCD’s position in the Advanced Materials segment in
India, a very promising market to support our expansion and
ambition in Asia. Both companies, have a strong track record
in offering specialty products and technical expertise which is
very much aligned with IMCD practices.’’
The acquisition is paid from available cash and existing
facilities.
- PRESS RELEASE IMCD acquires Monachem Additives